Taking All Risks In Making A Sale

I thought this was kind of funny the other day as there was this sign plastered near the location of the annual fair here. As you can see, there was an individual that was selling bottled water on the street with a sales pitch on how inside the fair you would be looking to pay at least $3.50 whereas this person is charging $1.

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I was thinking how you normally need some kind of permit to street vendor like this. Especially being right next to the fair itself where I am sure the merchants inside wouldn’t be too happy about it. Almost like a person going up to a movie theatre and advertising right next to the door on how he can sell the same soda for less. However, I would assume that this person simply decided to take the risk hoping nobody would care and that he would end up making a decent profit. Almost like setting up a lemonade stand.

Kind of ironic in some ways where I’m sure in most business types of books you are told to go through all the proper procedures to do business. In cases like this it’s not too far fetch that a lot of people get started this way even if it isn’t technically abiding by standard rules. Would you take the risk in not getting say licensed to sell your products in these types of scenarios with the mindset that you are so small that no one cares?